EarningsQ2 2026 Earnings Report
MX:BAERN Q2 2026 EPS Results
Actual EPS$69.35
Consensus EPS$67.61
Beat/MissBeat by +$1.74
One Year Ago EPS$47.15
MX:BAERN Q2 2026 Revenue Results
Actual Revenue$67.15B
Expected Revenue$48.73B
Beat/MissBeat by +$18.42B
YoY Revenue Growth+2.83%
Earnings Announcement Details
QuarterQ2 2026
Date07/21/2026
TimeBefore Open
Conference CallTuesday, July 21, 2026
MX:BAERN Upcoming Earnings
Julius Baer Group Ltd's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Q2 2026
Earnings Call Date:Jul 21, 2026|
% Change Since:
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Earnings Call Sentiment|Positive
The call presented a strong operational and financial performance: record AUM and record half-year net profit, robust revenue growth, expanding gross margins, tangible cost savings and a materially stronger capital position. Key strategic and technology initiatives are underway and RM recruitment pipelines are active. Offsetting these positives are near-term headwinds from the deliberate derisking and revised risk & compliance framework that will depress flows into 2027, some H2 cost buildup related to investments, isolated credit write-offs and regional recruitment challenges. On balance the positive financial outcomes and capital resilience significantly outweigh the near-term execution and derisking challenges.Company Guidance
Record Assets Under Management and Client Assets
AUM reached CHF 547 billion, up 5% year-to-date and the highest level in the bank's history; monthly average AUM rose 7% YoY to CHF 526 billion. Assets under custody increased 10%, bringing total client assets to just under CHF 650 billion.
Solid Net New Money and Client Activity
Net new money of CHF 5.7 billion (a 2.2% annualized run rate). Exceptional client activity, particularly in Q1, and a restart of client releveraging in May–June supported flows despite derisking headwinds.
Record Half-Year Net Profit and Revenue Growth
Record half-year net profit of CHF 673 million — a like-for-like increase of 32% YoY (IFRS net profit more than doubled). Operating income grew 12% YoY to CHF 2.276 billion.
Strong Income Mix Performance
Activity-driven income rose 30% to CHF 710 million; recurring income increased 10% to CHF 984 million. Net commission & fee income up 12% to CHF 1.279 billion; net income from financial instruments up 9% to CHF 876 million.
Improving Margins and Operating Leverage
Gross margin expanded to ~87 basis points (from just over 83 bps). Activity-driven gross margin up 5 bps to 27 bps; recurring margin stable at 37 bps. Expense margin improved 3 bps to 54 bps and cost-to-income ratio improved to 62.6% (down ~6 percentage points).
Cost Savings and Efficiency Progress
Gross run-rate savings of CHF 60 million implemented by end-June; CHF 11 million of fiscal-year savings already benefiting the P&L. H1 included CHF 7 million 'cost to achieve' tied to the efficiency program.
Strong Capital and Liquidity Metrics
CET1 capital rose 9% to CHF 4.3 billion and the CET1 ratio increased to 18.5% (up 1.1 percentage points). RWAs increased 3% to CHF 23.3 billion. Liquidity remains robust with an LCR of 344% and loan-to-deposit ratio at 61%.
Positive Operational and Strategic Progress
Execution on the 2026–2028 strategic cycle across five pillars (growth, efficiency, risk & compliance, technology, people). Key initiatives include a growth program launched in February, platform modernization, AI improvements to name/media screening, and client onboarding streamlining.
Relationship Manager Pipeline and Productivity
1,247 RMs at H1 end; 47 gross hires onboarded and 14 signed to start in 2026; expect ~120 hires in 2026 and a slight net RM increase by year-end. 31% of RMs on business cases with a 69% achievement rate; discretionary mandate penetration up to 17%.
MX:BAERN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed